By: Dr. Mike Campbell

With the exception of the Nasdaq, all of the world’s major stock markets closed lower, compared to how they stood last week. In Europe over the course of the week, the FTSE shed 1.5%, closing at 5195.3; the Dax fell by 1.7%, ending the week at 6005.2; the CAC dropped by 2.4% to end the session at 3526.1.

The Dow ended the week lower by 0.87%, finishing the trading session at 10213.6. The Nasdaq ended the week marginally higher by 0.29 %; closing at 2179.8 and making it the only major market to close higher.

The Nikkei closed down by 0.8% over the course of the week ending trading at 9179.4.

On the currency markets last week the Euro again had the worst of trading. The Dollar was stronger against Sterling by 0.4% closing at 1.5518 to the Pound. The Greenback was stronger against the Euro by 0.7%, to close at 1.2711. The Dollar was also down against the Japanese currency at 85.3906 to the Yen, a fall of 0.45% on the week.

The Euro fell back against the Yen closing at 108.54, losing 1.1%. The Euro weakened against Sterling over the course of the week by 0.26%. The close saw one £ buying 1.2209€.

On the commodities market, the price for Brent crude was again lower, closing at $74.3 per barrel (for October delivery); a fall of 1.1% over the course of the week’s trading. The value of gold strengthened to 1227 per ounce, representing a gain of 1.1% over last week’s value.